Analisis Faktor-Faktor yang Mempengaruhi Return Saham dengan Likuiditas Sebagai Variabel Moderating pada Perusahaan yang Terdaftar dalam Indeks LQ45 di Bursa Efek Indonesia
| Main Author: | Astuti |
|---|---|
| Other Authors: | Lubis, Ade Fatma, Akhmad, Arifin |
| Format: | Masters application/pdf |
| Bahasa: | ind |
| Terbitan: |
Universitas Sumatera Utara
, 2019
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| Subjects: | |
| Online Access: |
http://repositori.usu.ac.id/handle/123456789/13812 |
Daftar Isi:
- 146 Halaman
- The objective of the research was (1) to find out the influence of the factors of Earning per Share, Debt to Equity Ratio, Price to Book Value, and Dividend Payout Ratio simultaneously and partially on stock return. (2) to find out the factors of the capacity of liquidity to moderate the correlation of the factors of Earning per Share, Debt to Equity Ratio, Price to Book Value, and Dividend Payout Ratio on stock return. The objects of the research were 26 companies listed in the LQ45 Index in the Indonesia Stock Exchange per December 31, 2015 which were always active and never came out of LQ45 Index during the period of 2012-2015. The samples were 26 companies, taken by using total (census) sampling technique. The data were gathered by conducting documentary study on financial statement by performing download from official website of BEI in www.idx.co.id and stock price from http://finance.yahoo.com. The gathered data were analyzed by using multiple linear regression analysis and interaction test or Moderated Regression Analysis (MRA). The result of the research showed that (1) simultaneously, there was significant influence of the factors of Earning per Share, Debt to Equity Ratio, Price to Book Value, and Dividend Payout Ratio on stock return, (2) partially, Price to Book Value and Dividend Payout Ratio (DPR) had significant influence on stock return, while Earning per Share (EPS) and Debt to Equity Ratio (DER) did not have significant influence on stock return, and (3) Liquidity could not moderate the correlation of the factors of Earning per Share, Debt to Equity Ratio, Price to Book Value, and Dividend Payout Ratio with stock return.
- Penelitian ini bertujuan untuk (1) Mengetahui pengaruh faktor-faktor (Earning per Share, Debt to Equity Ratio, Price to Book Value dan Dividend Payout Ratio) secara simultan dan parsial terhadap return saham, (2) Mengetahui kemampuan likuiditas memoderasi hubungan antara faktor-faktor (Earning per Share, Debt to Equity Ratio, Price to Book Value dan Dividend Payout Ratio) dengan return saham. Objek penelitian ini adalah perusahaan yang terdaftar dalam Indeks LQ45 di Bursa Efek Indonesia per 31 Desember 2015 yang selalu aktif dan tidak pernah keluar dari Indeks LQ45 selama periode penelitian tahun 2012-2015 yaitu 26 perusahaan. Sampel dipilih dengan menggunakan metode sampel total (total sampling) atau sensus. Jumlah sampel dalam penelitian ini adalah sebanyak 26 perusahaan. Pengumpulan data dilakukan dengan cara mengambil dokumentasi laporan keuangan perusahaan dengan cara mendownload dari situs resmi Bursa Efek Indonesia di www.idx.co.id dan harga saham dari http://finance.yahoo.com. Metode analisis yang digunakan adalah analisis regresi linier berganda dan uji interaksi atau Moderated Regression Analysis (MRA). Hasil penelitian ini menunjukkan bahwa (1) Secara simultan terdapat pengaruh yang signifikan antara faktor-faktor (Earning per Share, Debt to Equity Ratio, Price to Book Value dan Dividend Payout Ratio) terhadap return saham. (2) Secara parsial, Price to Book Value (PBV) dan Dividend Payout Ratio (DPR) berpengaruh signifikan terhadap return saham. Sedangkan Earning per Share (EPS) dan Debt to Equity Ratio (DER) tidak berpengaruh signifikan terhadap return saham. (3) Likuiditas tidak mampu memoderasi hubungan antara faktor-faktor (Earning per Share, Debt to Equity Ratio, Price to Book Value dan Dividend Payout Ratio) dengan return saham.